Credit Suisse CEO Just Took A Humiliating Bath

Accountability in Wall Street C-Suites was hard to come by for
many years.

But there now appears to be some daylight, at least at one firm.

Credit Suisse announced today it was hacking CEO Brady
Dougan's pay by 69% to $3.3 million, reflecting what the firm's
compensation committee called "a difficult year in terms of
financial performance."

Their decision "represents the CEO taking real and direct
accountability for the earnings level and share price performance
of the Group, in alignment with the interests of shareholders,"
the board wrote in its annual report.